All Forum Posts by: Roger Evans

Already own a few multi families and would like to purchase the "forever SFH" prices are high, interest rates are the lowest they'll probably ever get right now. Would you wait it out a bit to see what happens? Obviously with a multi family deal if the numbers work then you can buy whenever, not so much the case for a single family house. If I buy now and in 3-6 months the market drops 20-30k I'm negative equity. Multi families have the cash flow aspect along with multi families are rarely being built brand new. Any thoughts? Someone buying SFH also?

@Besnik Kadriu House hack, put down 3.5% and live in the 2-4 unit for one year. No reason to invest 100k, cash is king for the housing correction.

I currently own a duplex, I'd like to convert it into a four unit. There's enough land and the zoning most likely will be good "4 condo buildings in a row next door". Assuming the zoning is fine and city is ok with it what's the best route to secure financing? Currently have a mortgage on the duplex and it's a VA home loan. Thanks

@Jared May thanks for responding. I'm worker with a mortgage broker that gave me the conventional 5% down option on a SFH. I'm actually looking to purchase another multi family with fha hopefully it works out.

@Jared May Did this work for you? currently in the same situation looking to use FHA loan.

@Paulo Metts what did you end up doing?

@Wayne Brooks going to owner occupy so no 5%

@Upen Patel

Rah, I understand what you mean. I have in the past moved from a single family to a three unit and had no issues. Just got a pre-approval to purchase another 3-4 unit so we’ll see.

@Joshua Field I'm in the same boat as you. I sold my first VA home that I held for five years last October so I have money for a down payment on FHA along with reserves for all three houses. Just got a quote from a mortgage broker "2.375% for a 30 year fixed" for FHA can't do better then that.

@Russell Brazil Ya I've gotten mixed reviews, I haven't used the FHA loan yet so that'll be my plan.